The Commerce Department released a report on Friday showing U.S. wholesale inventories increased by less than expected in the month of October.
The report said wholesale inventories rose by 0.5 percent in October after climbing by 0.6 percent in September. Economists had expected wholesale inventories to increase by 0.8 percent.
Inventories of durable goods advanced by 0.7 percent in October after jumping by 1.0 percent in September, while inventories of non-durable goods edged up by 0.2 percent after coming in unchanged in the previous month.
The Commerce Department also said wholesale sales increased by 0.4 percent in October after inching up by 0.1 percent in September.
Sales of durable goods climbed by 0.8 percent in October after rising by 0.6 percent in September, while sales of non-durable goods came in unchanged after dipping by 0.3 percent in the previous month.
With inventories and sales both increasing, the inventories/sales ratio for merchant wholesalers came in unchanged from the previous month at 1.32.
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